While often the target of the market's naysayers, Lee has nevertheless been on the right side of the bull market since it began back in 2009.

Lee actually appeared on CNBC's Squawk Box earlier today, reiterating his bullish call and answering questions about the bubble-like characteristics of the market.

"These are things we can't ignore," Lee told CNBC. "You don't want to have a market that becomes speculatively frothy. The most important thing for us [are] the signs of a recession. ... Really we should focus on the fact that we're in a bull market."

According to CNBC's Kate Kelly, Lee will be taking time off and he has no immediate plans for what he'll do next.